Trump announces tariffs on the EU as well

U.S. President Trump answered questions from the press regarding the agenda following a signing ceremony held in the Oval Office.

Arguing that they have been treated poorly in bilateral trade relations with many countries and have been losing money, Trump stated that he would impose new tariffs on many countries, primarily Mexico, Canada, and China.

Responding to a question asking, "Will you impose tariffs on the European Union?", Trump said, "I'm sure you haven't heard that I'm going to impose tariffs on the European Union. Do you want the right answer or should I give you a political answer? Absolutely (I will). The European Union has treated us very badly."

On the other hand, Trump reiterated that they will impose a 25 percent tariff on Canada and Mexico and a 10 percent tariff on China starting February 1.

When asked whether he would apply the same tariff to Canadian oil, Trump said, "I will probably lower the tariff on that a little bit. We are thinking of lowering it to 10 percent for oil."

"WE WILL ALSO IMPOSE TARIFFS ON CHIPS"

Stating that the U.S. has historically always been wealthy through tariffs and that he is returning to this approach, Trump expressed that he could also impose tariffs on chips, oil, natural gas, steel, aluminum, and eventually copper.

"Eventually, we will put tariffs on chips. We will also put tariffs on oil and natural gas. That will happen quite soon. Think around February 18th. We will put tariffs on steel, aluminum, and eventually copper," said Trump, noting that they will impose tariffs on countries that impose tariffs on the U.S.